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WTI Crude Oil Rebounds 11%

Posted On 20 Mar 2020
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Crude oil prices finally caught a bid after falling to $20 a barrel.

If the upside continues, we expect oil prices to test the 28.00 level of resistance. We estimate price action to remain range-bound within the 28 – 20 handle.

However, there is a risk that prices could slip below this level due to the downside pressure.

But, given the hidden bearish divergence, we expect a reversal in the near term.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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